Rich in culture, blessed with natural beauty, and a powerhouse in West Africa, Nigeria wields a significant influence on the global stage. Its widespread diaspora has seen many Nigerians establishing new homes in far-off lands, including South Africa. Despite the physical distance, the bond with their motherland remains unbreakable for many. This connection is often strengthened through remittances sent back home to support families, businesses, and dreams.
According to the World Bank, Nigeria ranks as one of Africa's top recipients of remittances, highlighting the critical role these financial transfers play for numerous households.
For many years, figuring out how to send money from South Africa to Nigeria was fraught with unique challenges. Notably, the restriction on Naira payouts for diaspora remittances, a policy in place since December 2020, presented a significant hurdle. However, in the realm of financial transactions, change is inevitable. With the recent decision by Nigeria's Central Bank to lift this ban, how to send money to Nigeria in Naira has become more straightforward, offering increased flexibility and convenience for senders.
Sending Naira in Times of Inflation:
The recent cessation of USD transfers, prompted by inflation hikes in Nigeria, underscores the importance of sending Naira. Mama Money's Naira transfer option stands out as a financial tool, enabling Nigerians in South Africa to support their families effectively amid economic fluctuations.
Challenges of Sending Money to Nigeria:
- Currency Limitations: Until recently, remittances to Nigeria were confined to USD. The restriction on Naira payouts made the process more complex for many who wished to send money in the local currency. This changed with the recent announcement, adding a new dimension to the transfer process.
- High Transfer Fees: Traditional money transfer systems often charge exorbitant fees, both flat and percentage-based.
- Lengthy Processing Times: Traditional banking systems might take days before the recipient can access the money in Nigeria, especially if it involves currency conversion.
- Complex Procedures: Extensive paperwork, multiple forms of identification, and sometimes, a requirement to explain the reason for the transfer can make the process tedious.
- Security Concerns: Concerns about data breaches, scams, or potential risks in handling large sums of cash have always been a challenge in the remittance industry.
Mama Money is here to make a difference. With our secure, efficient, and user-friendly platform, you can now send both USD and Naira to Nigeria, ensuring that your loved ones receive their money without hassle.
Simply download our money transfer app and follow the registration steps.
Our Payout Partners in Nigeria:
Bank Account Transfers: We've established strong partnerships with leading banks in Nigeria, ensuring seamless transactions. Some of our esteemed partners include:
- Access Bank: Recognised for its extensive reach and innovative banking solutions, Access Bank stands as one of Nigeria's most influential financial institutions.
- Diamond Bank: Renowned for its customer-centric approach, Diamond Bank offers a range of banking services tailored for individual and corporate needs.
- Ecobank: With a strong presence in numerous African countries, Ecobank offers local and cross-border financial solutions.
- Fidelity Bank: A fast-growing bank, Fidelity Bank offers many banking solutions for individual and business needs.
- First Bank of Nigeria: A leading Nigerian bank offering a wide range of personal and business banking solutions.
- FCMB Bank: A top retail bank in Nigeria, FCMB is known for its wide range of dynamic products designed for different customer segments.
- Guaranty Trust: Renowned for its innovative approach, Guaranty Trust Bank (GTB) is a prominent Nigerian bank known for its digital banking solutions.
- Heritage Bank: Heritage Bank focuses on supporting individuals and businesses in Nigeria's agricultural and core economic sectors.
- Jaiz Bank: Jaiz Bank is Nigeria's first Islamic non-interest bank offering Sharia-compliant financial products and services.
- Keystone Bank: Keystone Bank provides a comprehensive range of banking services for individuals and businesses in Nigeria.
- Polaris Bank: Established in 2018, Polaris Bank offers personal and corporate banking solutions in Nigeria.
- Skye Bank: (Defunct) Skye Bank was a Nigerian bank that merged with Polaris Bank in 2018.
- Stanbic IBTC: Stanbic IBTC Bank is a Nigerian financial services provider offering investment banking, wealth management, and private banking services.
- Standard Chartered: A global banking group with a presence in Nigeria, Standard Chartered offers personal, private, and corporate banking services.
- Sterling Bank: Sterling Bank positions itself as Nigeria's "innovative customer-centric bank," offering a range of personal and business banking solutions.
- Suntrust Bank: A Nigerian commercial bank that offers various financial solutions for individuals, businesses, and institutions.
- Union Bank: With a history dating back over a century, Union Bank combines tradition with innovation to deliver top-notch banking services.
- United Bank for Africa (UBA): A pan-African banking group with a presence in 20 African countries, UBA offers a variety of personal, commercial, and corporate banking solutions.
- Unity Bank: Unity Bank focuses on retail banking, serving individuals and small and medium-sized enterprises (SMEs) in Nigeria.
- Wema Bank: Wema Bank is a Nigerian bank known for its focus on digital banking and innovative financial products.
- Zenith International Bank: Known for its robust banking infrastructure and services, Zenith Bank is a favourite among many Nigerians at home and abroad.
Cash Pick-Ups: Sometimes, receiving money directly in hand is more convenient. Recognising this, we've collaborated with:
- Western Union: A global leader in money transfers, Western Union, boasts numerous pick-up locations across Nigeria, ensuring easy accessibility for recipients.
These strategic partnerships ensure that regardless of where your loved ones are in Nigeria, they can access their funds with ease.
How long will it take for my money to arrive?
- Transfers for cash collection are sent within minutes.
- Transfers to bank accounts on average take 5 hours to be received but can take up to 48 hours to reflect depending on the recipient’s institution.
What customers say about Mama
“Mama money is best platform to send money home direct to a loved one account number without additional exchange rate chargers. With mama you can send money to your loved ones without delay. I use mama money because they send money to recipients account number without converting from dollar to local currency. For that reason I will be keep supporting mama money” - Hugo william
Mama Money simplifies the money transfer process, making it the preferred choice for many who need to send money to Nigeria. With a secure platform, fast transactions, low fees, and exceptional customer support, Mama Money is the go-to solution for your international money transfer needs.
Experience the Mama Money difference today! Download our app and start sending money to Nigeria right away. Make the smart choice and choose Mama Money for your international money transfer needs.
Need help? Mama is here.
To learn more about how to send money from South Africa to several other countries worldwide, follow Mama Money and learn all about our international money transfer services via
Should you have any questions that are not covered above, please contact Mama via WhatsApp at +27661041097.
